What is Forward Markets Commission?

The Forward Markets Commission (FMC) is the chief regulator of the foreign markets in India and was established in the year 1953 under the Forward Contracts Act, 1952. This agency is overseen by the Ministry of Fiance (Government of India) and Ramesh Abhishek (IAS) is currently the chairman of this agency.
To know more about this agency, follow this link : http://en.wikipedia.org/wiki/Forward_Markets_Commission_(India)